How Do You Make Money With Hive? Part 1

in LeoFinance3 months ago

How Do You Make Money With Hive_ Part 1.png

With the recent explosion in DeFi, the ETH price and many other assets in the crypto space rising in terms of both valuation as well as attention from the media, I feel it’s more important now than ever before to explain the value proposition of HIVE.

Hive is one of the most interesting ecosystems in all of crypto. For those who don’t understand it, it seems like some obscure platform where people write blog posts or post a picture of their cat and earn some highly inflated cryptocurrency in exchange. To some who followed the Steem-Hive situation, Hive is a decentralized fork of the well-known Steem/Steemit blockchain.

Building LeoFinance and getting more users means spending more time on other social platforms.. Especially Twitter. I’ve been spending an enormous amount of time on Twitter over the past few months for a lot of different reasons, but the primary driver is to onboard more people to LeoFinance and consequently, to Hive.

One of the most common questions out there from people of varying knowledge related to Hive is:

“How Do You Make Money With Hive?”

Many on this platform have said this continually: you come to Hive for the money, but you stay for the community. This is exactly what drew me to this ecosystem 4 years ago and I know that it is exactly what will drive more people like me to this ecosystem today.

The explosion in ETH and DeFi is directly correlated to peoples’ desire to earn cryptocurrency. Most people want to know how they can put their crypto or time to work for them and earn some type of yield.

This is all a long-winded way of saying that this post is aimed at those potential Hive/LeoFinance users: the people who want to earn some crypto/stack sats and who haven’t yet seen all that Hive can offer in those regards.

There are dozens of ways to earn crypto on Hive. That’s what makes this blockchain ecosystem so fascinating. Depending on your personality, what you enjoy doing, your talents etc. you can earn crypto on Hive in myriad ways.

In this post, I’ll talk about the ways that I earn HIVE/Crypto for being a part of the Hive ecosystem. There are plenty of other ways to earn Hive that I don’t discuss here, and if you’re an established Hiver, feel free to leave a comment below this post and spread the word about your preferred methods.

Let me first be clear in saying this: not every way to earn Hive is for everyone and you also won’t get rich overnight on Hive. My primary driver for being on Hive is not to make money (at least, not in the short-term sense). My driver for showing up each day stems from a place of personal achievement first and money second. If you’re looking for the best way to make the most amount of money online, Hive is not that.

Hive is a place where you can do what you love and get paid for it. How much you get paid is very subjective and that’s why I believe the most important lesson for Hive is to do what you’re passionate about and let the money be a secondary proverbial cherry on top of the ice cream sundae.

Curating

I like to curate content and support people who add value to the Hive blockchain. Before I started LeoFinance, I curated content that I liked reading on Hive. Most of it was about Hive/crypto because that is what I’m ultimately interested in.

Today, I curate content in the LeoFinance community primarily. This way, I get to support Hive authors who also support LeoFinance by being a part of our community. I curate manually with this account (@khaleelkazi) and with the @leo.voter account for LeoFinance x Hive posts.

As you can see, curating on Hive can be a pretty valuable activity. This particular account has quite a bit of HIVE POWER and earns a decent amount of rewards, but it is far from “a lot of income". As I said before: do what you love and let the rewards be secondary.

If you check on the accounts of some large Hive stakeholders, you can see people who earn thousands upon thousands of USD per month for curating content. This is obviously due to the size of their staked HIVE. For most people, curating content is not going to make them rich… but it all goes back to my overarching point: on Hive you can do what you like doing and get paid for it.

For me, I get to read and upvote content about finance & crypto (that I would read about elsewhere anyways) and earn a little $ each month for my effort.

Blogging and Content Creation

Blogging and content creation play a central role in the Hive ecosystem. The original use case of Hive is as a social platform for creating and engaging with content.

Here is a snapshot of my author rewards on Hive for the past 30 days. I've made about $500 USD for my blog posts. I post about 7-10 times per week and do a mix of long-form article (like this one) and videos like the LEO Roundtable Podcasts and the Tech Talk Podcasts.

I wrote a post that dove more into the nuances of earning an income on Hive (especially as a content creator) - if you're interested.

Again, drawing back on my original statement about earning money on Hive: do what you love to do and worry about the payouts as a secondary measure.

I spend an enormous number of hours each week writing posts, editing videos, producing content, etc. and the $500 per month that I earn is not worth those amount of hours (personally speaking, as I know that amount of money is not measly for many other people from different parts of the world). The real reason why I spend so much time creating content is because:

  1. I enjoy writing
  2. I enjoy recording podcasts
  3. The content builds the LeoFinance community

Obviously, I still enjoy the rewards that I earn on content and I appreciate all the people who take the time to upvote me (or set their trail to do it). The way that I like to frame it is this:

The income that I earn from blogging/creating videos is still significant enough that I pay attention to the $ each month, but not significant enough to be the only reason why I post content.

This post is running extremely long (already over 2000 words), so I'll finish writing the rest of it and then drop part 2 later today. In it, I'll talk about the other ways you can earn crypto on Hive:

  1. Curating Content
  2. Creating Content
  3. Delegating to Projects For Passive Yield
  4. Trading/Using Second-Layer Tokens
  5. Building a Business/Community
  6. Trading Hive
  7. Freelancing on Hive

Feel free to spread this post around - especially to people who are Hive-curious, but who haven't taken the plunge yet. The point of this post is to inspire and encourage people to start using Hive to do the things that they enjoy doing and earn some crypto as a side benefit.


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Outside folks need to know this.
We can add gaming as well :)

yea, I made like 4k hive on DCity haha. Gaming IMO is actually number one, for short grabs... but not always an opportunity like dcity on Hive.

Posted Using LeoFinance

Dcity is awesome. I bought some cards to support gerber early on and I'm doing very well with them. Im not much into actually playing, but it's been a great payoff betting on the man the myth the gerber ;)

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why wasn't I aware of this game !?!

Posted Using LeoFinance

Yeah gaming is a good one to add. I'll include that in the follow-up on this post. There may even be a part 3 now because that one is running long haha

So many ways to earn, so little time!

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You're even In part one of this content and it's already like 10 minutes read. The truth is, hive is spoilt for choices and it's still baffling that these opportunities are still untapped into, I'm looking forward to seeing the part 2

lol yeah there is plenty to talk about when it comes to earning on Hive. This may even turn into a 3 part series at this point

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I agree that doing what you love should come first!

100%. With passion as the driver, everything is better.

Posted Using LeoFinance

I agree!

I really enjoyed this post and look forward to your future ones! I started a project called @hiveincubator and we are thinking along the same lines!

Thanks! That's awesome, I'll check out what you're up to over there

Posted Using LeoFinance

I think we have a big chance to bring se DE-FI peeps over with products like dlease and the staking rewards of powering up hive if we had more of an educational drive

I’m pretty sure HIVE engine tokens could be converted to DE-FI options to invest in dApps that could eventually build cash Flow like tribes are doing with ads

I hope leoFI will launch in time to catch the de-fi tailwind and blaze a trail for more defi solutions on this chain since it’s so cheap to build and transact on it makes sense provide a de-fi alternatives like what’s happening on ETH!

Liquidity pools for example would be a great start

I agree - there is a huge potential to onboard people for the express purpose of DeFi on Hive... 0 fees, 3 second transactions... far superior to Ethereum at the moment in terms of on-chain activities.

LeoFi is exciting and I'm definitely interested to see what we can make of it. I think we'll have a big impact with that project.

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Something that can make sure that we will continue doing what we do over time is when we feel joy, it will make us have energy to keep up.

I'm still a newbee in here so I did know aout curating and posting (that is what I do right now) but I don't know much about the other topics

Great post, and I'm so waiting for the next ones

Glad to hear I could shed some light on these other aspects. The evolution of Hive over time has allowed for dozens of ways to earn, so I'm excited to share some of those with you. This is truly the blockchain of opportunities!

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Completely agree, and there is still more to go for in dev

The most depressing experience for me was taking part in writing contests. Competing worldwide against writers that had enough time to read and write made it impossible to make a lucrative side gig out of it, not to mention the impossibility to find out how to kiss the founders' asses in a way virtually always sponsoring all those damn stupid contests, sometimes not even reading my posts in detail. So, my most successful entry was to write a very provocative post about virtual vaginas where the company's marketing team had created such an absurd and far-fetched campaign for their security device that it had been so easy for me to write this provocative master piece on their self-inflicted foundations. At the end it shocked all so much that they contacted me via linkedIn to modify my post, to shut me up the organizers of the contest even transferred the double amount of what I usually should have earned on Steem. After some time I gave up on all that pussy stuff and was invited as public speaker where my former colleagues needed someone to talk about the newest trends in blockchain, so I went through all those upcoming writing contests I missed after my devastating experiences as a contest writer to see what's going on in the field and I really liked the idea of kleros.io, about their internet court system and surprisingly not having written any contest entry but building my whole talk on their efforts made me famous in the field of alternative dispute resolution and legaltech today. Being successful in supporting Kleros's community management, becoming acquainted with the team and providing support as early adopter to promote them and further speaking publicly about their business model, made me a shareholder, stakeholder and ultimately partner of the company. This coincidence resulted in further international corporate and academic talks, many contacts worldwide that booked me for podcasts and fertilized my main business as a consultant with the fueling of my entrepreneurial ecosystem @sciencevienna with many many more collaborations and high paying clients for my service packages.

Cool comment ! Nice it well for you, but yeah it's super hard, the whale play their shenigans, self voting, swarm votes etc... but at least there is yet no censorship...

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I think this is what they always mean by "find your niche". Too many risks, either one is employed and tries to develop very slowly some small side gigs or one can focus entirely on one's own brand with insurmountable risks. Was not the first time I was close to the streets, this is what they also might call "street smartness". About safety nets nobody is talking or tell shitty things like: "I try to remain in control of all my projects."

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Hive need tokens on chain and then the uniswaps and 1inches. Yesterday

Very good information. The blockchain is very rewarding in more then just crypto and there is a niche for just about anyone to get into. I agree with you doing what you love is the most important thing here. I have not seen such a great community to support everyone anywhere else. I'm looking forward to part 2.

WoW! Awesome post! It will be very useful for newcomers, but also for other who didn't learn these options for earning Hive...

Thanks for sharing!



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: you come to Hive for the money, but you stay for the community. This is exactly what drew me to this ecosystem 4 years ago and I know that it is exactly what will drive more people like me to this ecosystem today.

I love this

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I started on Steem/Hive to journalize what I was seeing in the Markets...as Hive evolves so do I, never saw myself getting involved or investing in other projects, but that's the evolution of not only Hive, but myself.

Posted Using LeoFinance

This is the type of cornerstone, long-form content that needs to be on LeoPedia.

Great work as always.

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There are not one or two ways Hivers make money, there are different ways. Hivers who love playing games, they make money on Splinterlands and dCity. The bottom line is, do what you are passionate about and then you get to earn.

Thank you @khaleelkazi for sharing this. Looking forward to reading your next post!

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In fact not easy for getting reward also. For newbie sometimes will make feel bored.

This magic words I think for support everyone.

Again, drawing back on my original statement about earning money on Hive: do what you love to do and worry about the payouts as a secondary measure.

I started also because earning crypto for blogging, but that has now evolved into building an investment portfolio.

I love blogging, lately a lot about dcity, but the end goal now is to build my passive income. Along with blogging and dcity, because that is what I like to do 😎

With so much opportunities exist in Hive, I feel calling Hive as a social media/blogging platform is understatement.
My recent post on this topic.
https://leofinance.io/hive-167922/@r1s2g3/do-hive-needs-re-branding

And for those who know how to, development has got some pretty great stuff for HIVE too. I make the most off Hive related dev work + other projects I'm making for hive.

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Muy cierto tu comentario si existe muchas maneras de ganar en HIVE, aparte de criptomonedas, va junto el conocimiento, a diario todos aportar sus conocimiento y otros aprenden bastante.

Great points there, and I agree about that passion needs to come first, I would be blogging anyways, but with Hive I get paid for it too, even to the point where it funds my starting point for affiliate marketing using the CTP token and Firepay.

This is going to be a initial chapters of Hive manifesto..Thank you from a newbee 🙂